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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Net premiums earned $ 60,467,477 $ 46,215,260 $ 116,336,291 $ 89,738,323
Ceding commission revenue 1,532,966 3,081,556 2,936,842 6,040,247
Net investment income 3,428,729 2,300,267 6,766,310 4,348,863
Net gains (losses) on investments 240,345 546,451 (775,002) 408,472
Realized gain on sale of real estate 0 0 0 1,965,989
Other income 184,029 151,245 364,841 291,660
Total revenues 65,853,546 52,294,779 125,629,282 102,793,554
Expenses        
Loss and loss adjustment expenses 23,930,497 17,927,162 69,504,881 45,102,240
Commission expense 11,573,138 10,629,629 21,768,550 19,942,509
Other underwriting expenses 8,655,155 7,727,367 17,016,428 15,132,789
Other operating expenses 1,362,430 1,153,480 3,622,977 2,189,217
Depreciation and amortization 761,473 613,364 1,476,980 1,237,227
Interest expense 58,808 77,074 128,663 304,528
Total expenses 46,341,501 38,128,076 113,518,479 83,908,510
Income from operations before taxes 19,512,045 14,166,703 12,110,803 18,885,044
Income tax expense 4,041,874 2,914,371 2,448,882 3,750,052
Net income 15,470,171 11,252,332 9,661,921 15,134,992
Other comprehensive (loss) income, net of tax        
Gross (increase) decrease in net unrealized losses on available-for-sale-securities (689,985) 1,289,253 (3,294,501) 4,101,685
Reclassification adjustment for net realized losses included in net income 202,328 4,078 205,251 5,804
Net (increase) decrease in net unrealized losses (487,657) 1,293,331 (3,089,250) 4,107,489
Income tax benefit (expense) related to items of other comprehensive (loss) income 102,408 (271,600) 648,744 (862,572)
Other comprehensive (loss) income, net of tax (385,249) 1,021,731 (2,440,506) 3,244,917
Comprehensive income $ 15,084,922 $ 12,274,063 $ 7,221,415 $ 18,379,909
Earnings per common share:        
Basic (in dollars per share) $ 1.07 $ 0.81 $ 0.67 $ 1.10
Diluted (in dollars per share) $ 1.05 $ 0.78 $ 0.66 $ 1.07
Weighted average common shares outstanding        
Basic (in shares) 14,480,305 13,925,707 14,467,100 13,700,308
Diluted (in shares) 14,671,627 14,387,538 14,638,799 14,148,748
Dividends declared and paid per common share (in dollars per share) $ 0.05 $ 0 $ 0.10 $ 0